Global activity in mergers and acquisition shows few signs of emerging from its stagnancy.
For the first nine months of 2023, dealmakers agreed 26,608 deals totaling USD 2.1trn globally, a 29% decline in volume compared with the same period last year.
The dealmaking doldrums stem from the dawning realization that US interest rates may remain high for a prolonged period to combat inflation, poor economic outlooks for Europe and China, and a tougher antitrust environment in Washington, Brussels and London.
The year’s poor start declined into the worst third quarter by volume in 11 years, with only 6,730 transactions worth USD 719bn.
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